2368. Florida Savings Bank (Jacksonville, FL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
savings bank
Start Date
August 13, 1888
Location
Jacksonville, Florida (30.332, -81.656)

Metadata

Model
gpt-5-mini
Short Digest
3668e889

Response Measures

Partial suspension

Other: Bank invoked sixty-day (30/60/90) rule due to yellow fever panic; later remained suspended with creditors seeking receiver and gradual payments to depositors.

Description

Multiple 1888 news items report a 'fever panic' and that the Florida Savings Bank 'took advantage of the sixty-day rule' (i.e., suspended payments) during the yellow fever outbreak. This was triggered by the health panic (local shock) that produced heavy withdrawals/run behavior. Subsequent 1889 items refer to the bank as 'suspended' and creditors petitioned for a receiver; 1890 reports partial dividend payments to depositors. Overall the bank suspended in Aug 1888 after runs and did not resume normal operations (creditors sought receiver), so classified as run -> suspension -> closure. Some later notices discuss payments/dividends to depositors (partial repayments); sources are slightly inconsistent about full vs. partial payment—documented below.

Events (5)
1. August 13, 1888 Run
Cause
Local Shock
Cause Details
Yellow fever panic in Jacksonville produced mass exodus and heavy withdrawals from the bank
Measures
Invoked the sixty-day rule (temporarily suspended payment of deposits)
Newspaper Excerpt
The fever panic continues... The Florida Savings Bank has been forced to take advantage of the sixty-day rule with reference to the withdrawal of deposits
Source
newspapers
2. August 13, 1888 Suspension
Cause
Local Shock
Cause Details
Bank suspended payments (sixty-day rule) due to pressure from withdrawals caused by the yellow fever panic
Newspaper Excerpt
The Florida Savings bank has been forced to take advantage of the sixty-day rule with reference to the withdrawal of deposits, and no money will be paid out at present.
Source
newspapers
3. June 27, 1889 Other
Newspaper Excerpt
The Florida Savings Bank (Greeley's), which suspended last August, will pay depositors in full, so Mr. Greeley said to-day. Mr. Morgan ... has arranged with capitalists, and will realize largely on real estate owned by the bank. Just as soon as the minor preliminaries are arranged by cable all will be settled.
Source
newspapers
4. July 17, 1889 Other
Newspaper Excerpt
An effort is on foot among the creditors of the suspended Florida savings bank (Greeley's) ... to have a receiver appointed, and the court was petitioned to-day.
Source
newspapers
5. June 3, 1890 Other
Newspaper Excerpt
The Florida Savings Bank, which suspended during the yellow fever epidemic, commenced yesterday paying a 20 per cent. dividend to depositors.
Source
newspapers

Newspaper Articles (9)
1. August 14, 1888 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 14, 1888

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Article Text

FLEEING FROM THE FEVER. The Panic at Jacksonville Continues, and the Residents Seek Safety Elsewhere. JACKSONVILLE, Fla., Aug. 13.-The fever panic continues, and people are leaving the city in large numbers by the only route now open --via Atlanta. This means of exit is likely to be closed at any hour, leaving Jacksonville practically shut in on all sides. Business is completely paralyzed. The Florida Savings Bank has been forced to take advantage of the sixty-day rule with reference to the withdrawal of deposits, and no money will be paid out at present. It is feared that the large number of unemployed negroes in the city will soon begin to plunder thousands of deserted houses. The police force has been increased, but is still scarcely able to properly protect the entire city. The work of fumigation is still going on or er the city, and every possible means is being used to confine the disease to its prese nt limits. "The concussion" theory of killing the fever germs will be given a practical test. A battery of five pieces of artillery will to-night commence a systematic firing, which will be kept up for several days. Two new cases of fever are reported-B T. Dillon. superintendent of the Western Union Telegranh Company, and Wm. Shepard, a resident of Church street. One death occurred to-day. Nineteen patients are still under treatment. The business of the Western Union Telegraph Company is seriously interfered with. only about one-third of the regular operators remaining in town. Dr. Euchernedia, a popular and skillful Cuban physician of long experience in such maiters, bas been given the management of the work of disinfection. He is an energetic man, and is doing thorough work. He is authorized to burn buildings, and will not hesitate to do whatever is necessary. NEW ORLEANS, La., Aug. 3.-Inspectors are placed on all incoming trains and persons known to be from fever-infected points are detained at quarantine until seven days from their leaving such points, but it is often difficult to enforce the precaution. On Saturday the ladies and children of a party from Tampa were detained at the quarantine station at Rigolets, while two men of the same party, having no baggage to betray their place of departure, got through the city undetected. The ladies are now making it uncomfortable for the Boad of Health for permitting such an injustice.

2. August 14, 1888 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, August 14, 1888

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Article Text

A FEVER STRICKEN CITY. Jacksonville Deserted and Its Business Paralyzed-The Death Report. JACKSONVILLE, Fla., Aug. 14.-The fever panic continues and people are leaving the city in large numbers by the only route now open-via Atlanta This means of exit is likely to be closed at any hour, leaving Jacksonville practically shut in on all sides. Business is completely paralyzed. The Florida Savings bank has been forced to take advantage of the sixty-day rule with reference to the withdrawal of deposits, and no money will be paid out at present. It is feared that the large number of unemployed negroes in the city will soon begin to plunder the thousands of deserted houses. The police force has been increased, but is still scarcely able to properly protect the ontire city. The work of fumigation is still going on over the city, and every possible means is being used to confine the disease to its present limits. The "concussion" theory of

3. August 15, 1888 Press and Daily Dakotaian Yankton, SD
Article from Press and Daily Dakotaian, August 15, 1888

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Article Text

Yellow Jack in Florida A STATE OF PANIC REIGNS AT JACKSONVILLE. AN EXODUS OF CITIZENS. People Leaving in Large Numbers by Way of Atlanta-Testing the "Concussion" Theory-Quarantine Isolates the City. JACKSONVILLE, Fla., Aug. 14.-The panic continues. People are leaving the city in large numbers by the only route now open-via Atlanta. This means of exit is likely to be closed at any hour, leaving Jacksonville practically shut in on all sides. Business is completely paralyzed. The Florida Savings bank has been forced to take advantage of the sixty-day rule with reference to the withdrawal of deposits, and no money will be paid out at present. It is feared that the large number of unemployed negroes in the city will soon begin to plunder thousands of deserted houses. The police force has been increased, but it is still scarcely able to properly protect the entire city. The work of fumigating is still going on over the city and every possible means is being used to confine the disease to its present limits. "The concussion" theory of killing the fever germs will be given a practical test. A battery of five pieces of artillery will at once commence a systematic which will be kept up for more new cases several firing, days. Two of fever are reported-B. F. Dillon, superintendent of the Western Union telegraph company, and William Shepard, a resident of Church street. One death occurred. Nineteen patients are still under water treatment. The business of the Western Union telegraph company is seriously interfered with, only about one-third of the regular operators remaining in town. Dr. Eucherndai, a popular and skillful Cuban physician of long experience in such matters, has been given the management of the work of disinfection. He is an energetic man and is doing thorough work. He is authorized to burn buildings and will not hesitate to do whatever is necessary. On account of the yellow fever excitement the Democratic congressional convention of the Second district, to have been held in Orlando on the 16th inst., is indefinitely postponed. From St. Augustine the attendance was very meagre, but it is known that 15,000 people have left the city within the last three days, and others are leaving as fast as possible. Judges of the United States court have ordered Clerk Walters to remove to Tallahassee the documents of the court.

4. August 16, 1888 Jamestown Weekly Alert Jamestown, ND
Article from Jamestown Weekly Alert, August 16, 1888

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Article Text

YELLOW JACK'S RAVAGES Twelve New Cases Reported--.Business at Jacksonville Paralyzed and Banks Nearly Ruined---Panic Stricken Citizens of St. Augustin Fleeing---Fears that the Negro Mob will Plunder and Destroy the Deserted Property. JACKSONVILLE, Fla., Aug. 15.-The fever panic continues and people are leaving this city in large numbers by the only route now open-via Atlanta. This means of exit is likely to be closed atany hour, leaving Jacksonville practically shut in on all sides. Business is completely paralyzed. The Florida Savings bank has been forced to take advantage of the sixty day rule with reference to the withdrawal of deposits, and no money will paid out at present. It is feared that the large number of unemployed negroes in the city will soon begin to plunder thousands of deserted houses. The police force has been increased, but is still scarcely able to protect the entire city. "The concussion" theory of killing the fever germs will be given a practical test. A battery of five pieces of artillery has commenced a systematic firing, which will be kept up for several days. Five new cases of fever are reported. Nineteen patients are still under treatment. From St. Augustine news is very meagre, but it 18 known that 1,500 people have left there within the last three days and others are leaving as fast as they can get away. The judges of the United States court have ordered Clerk Walter to remove to Tallahassee the documents of the court. He will be compelled to spend fifteen days in quarantine at Atlanta before being allowed to locate in Tallahassee.

5. August 17, 1888 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, August 17, 1888

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Article Text

THE SOUTHERN PLAGUE. A Terrible State of Affairs Exist at Jacksonville. JACKSONVILLE, Fla., Aug. 13.-The fever panic continues. The people are leaving the city by every known means of exodus. Macon, Ga., which had opened its gates to all refugees, closed them to-day. The police force has been increased, and six mounted police now patrol the streets night and day. Business is completely paralyzed. Negroes out of work gather in knots in the streets, and it is feared will soon begin to plunder the hundreds of unoccupied houses in the city. By reason of the exodus from the city banks have been largely drawn upon for funds. The Florida Savings bank this morning posted 8 notice on the door to the effect that the pressure had forced it to take advantage of the sixty day rule with reference to the withdrawal of deposits. This has not caused a panic yet, but there will be one when it becomes more generally known. Lime, sulphur and tar have been orrdered in large quantities and tonight several hundred fires will be kindled all over the city in order to kill the fever germs, if possible. To-night the "concussion" theory of killing fever germs will be glven a practical test. Wilson's battery, with five pieces of artillery, will begin firing continuously from seven o'clock for several hours. Nearly all the hotels, boarding houses and restaurants in the city have been closed. Hundreds of stores are closed and the proprietors have fled. Only two new cases of yellow fever are reported in the city as occurring in the last twenty-four hours.

6. June 28, 1889 The Morning News Savannah, GA
Article from The Morning News, June 28, 1889

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Article Text

HAD NO JURISDICTION. But the worst has not been told. It is related, upon apparently good authority, that the Alabama officers were acting upon warrants issued out of an Alabama court, and that they had no requisition papers whatever. Public sentiment in Walton county is against the officers, who are now regarded as having committed an unwarranted and most brutal murder. So far as learned, no arrests have yet been made. The Alabama officers have gone back to their home, Geneva county. An officer who is one of the four now charged with complicity admits that he fired one shot, but says he thinks that it was without effect. The grounds upon which he escapes the general accusation are not known here. Florida's Metropolis. JACKSONVILLE, FLA., June 27.-The Florida Savings Bank (Greeley's), which suspended last August, will pay depositors in full. so Mr. Greeley said to-day. Mr. Morgan, who went to England, has arranged with capitalists, and will realize largely on real estate owned by the bank. Just as soon as the minor preliminaries are arranged by cable all will be settled. The trial of the gamblers, who were raided last Saturday week, was begun in the criminal e ourt to-day. T. O. Turverson, who was the first arraigned, was acquitted, owing to insufficient testimony.

7. July 18, 1889 The Morning News Savannah, GA
Article from The Morning News, July 18, 1889

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Article Text

FLORIDA'S METROPOLIS. A Petition for the Appointment of a Receiver for 8 Bank. JACKSONVILLE, FLA., July 17.-An effort is on foot among the creditors of the suspended Florida savings bank (Greeley's), which collapsed last August, to have a receiver appointed, and the court was petitioned to-day. Yesterday two countrymen, Miles Price and J. Y. Coleman, got in a dispute at Marietta, about eight miles from Jacksonville, on the F. C. & P. railroad. Coleman shot Price and fled. P ice was brought to this city and died this afternoon about 5 o'clock. Men will be sent after Coleman, who is hidi g in Georgia.

8. July 19, 1889 The Morning News Savannah, GA
Article from The Morning News, July 19, 1889

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Article Text

Jacksonville's Suspended Bank. JACKSONVILLE, FLA., July 18. The bill in chancery filed yesterday bythe creditors of the suspended Florida Savinga Bank for the appoint ment of a receiver is too be resisted. Col. H. Bisbee and Judger Whis B. Owen, the bank's attorneys, will-nextweek argue the case before Judge White, at Live Oak.

9. June 4, 1890 The Morning News Savannah, GA
Article from The Morning News, June 4, 1890

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FLORIDA'S METROPOLIS. A Negro Decapitated While Coming to Savannah. JACNSONVILLE, FLA., June 3.-A negro named Neal Bird, while on the Knights of Pythias excursion which left here for Savannah, fell under the wheels and was decapitated. A new street railway company is being organized in the city to run from Burche's brickyard to Panama park. It will be run by electricity. The Florida Savings Bank, which suspended during the yellow fever epidemic, commenced yesterday paying a 20 per cent. dividend to depositors.